Anti-monopoly regulators of Russia and Belarus failed to reach agreements on Russian oil and petroleum transit tariffs, a representative of the Belarusian Ministry of Antimonopoly Regulation and Trade said following the talks in Moscow on Monday.

"Representatives of antimonopoly services of Belarus and Russia failed to reach agreements on tariffs on transit of Russian oil and petroleum products via the territory of our country. The talks will continue shortly," the representative was quoted as saying by the BelTA news agency, TASS reports.

According to the Belarusian Ministry of Antimonopoly Regulation and Trade, Minsk has suggested that the tariff on the transit of the Russian oil and petroleum products via its territory should be adjusted for inflation plus revenues lost due to reduced transportation volumes in 2019.

"In August, we agreed that we would look into virtual transportation volumes of 2019 and revenues lost by Gomeltransneft Druzhba last year due to reduced transportation volumes and take that into account in 2020. That is why it was recommended that the tariff should be adjusted for inflationary component (as envisaged by the methodology), as well as for lost revenues to make up for it this year," the representative was quoted as saying by the BelTA news agency.